Novomatic chief Wohlfahrt to stand down

Integrated global gaming firm Novomatic has announced that Franz Wohlfahrt is to stand down as general manager and chief executive officer of the company effective September 30.

Wohlfahrt, who has held the positions since joining the company in 2004, will continue to serve as a consultant and co-partner of the supervisory board.

Harald Newmann, who is currently responsible for major investment companies and international gambling projects at Novomatic, will replace the outgoing Wohlfahrt.

Newmann will be appointed as the new chairman of the board on October 1.

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